Yes ! this, but the focus was always on getting the best cooler and it's the position that limit the less airflow and radiator size for cooling. Now that they have massively oversize cooler, they could do something better, but if you have a 4 slot GPU, that is quite deep to go plug your card if the connector was flat on the board instead of at a 90° angle. (unless they make it extra long).
for having it facing the top, it's another story, you would have to have a mezzanine card to prevent it from sticking out on the back of the card. not impossible but way more complex and again, they would need to secure that in place to avoid frying your board.
But god, that would look way better than that.
The best alternative would probably be at the end of the card, but again, due to cooling, the PCB no longer extend to the end of the cards as they allow air to go thru there.
At this point, why now redoing the whole PCI-E connector to allow it to deliver 600+ watt and just have a beefier connector on the motherboard.
No simple solution right now